Suppose that for Italy in 2008, exports 400 billion euros of goods and 300 billion euros in services, imports equaled 500 billion euros of goods and 350 billion euros of services, and the rest of the...

Suppose that for Italy in 2008, exports 400 billion euros of goods and 300 billion euros in services, imports equaled 500 billion euros of goods and 350 billion euros of services, and the rest of the world purchased 250 billion euros of Italy’s assets * What was the merchandise trade balance for Italy? * What was the balance of payments on the current account for Italy? * What was the balance of payments on financial accounts? * What was the value of Italy’s purchase of assets from the rest of the world?